Ball (NYSE:BALL) Given New $75.00 Price Target at Royal Bank of Canada

Ball (NYSE:BALL) had its price target trimmed by Royal Bank of Canada from $77.00 to $75.00 in a report released on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts have also issued reports on the company. Morgan Stanley raised Ball from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $69.00 to $78.00 in a research note on Wednesday, September 4th. Citigroup boosted their price target on shares of Ball from $66.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Robert W. Baird upgraded shares of Ball from a “neutral” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Wednesday, August 14th. Truist Financial reiterated a “buy” rating and issued a $78.00 price objective (up previously from $76.00) on shares of Ball in a report on Friday, August 2nd. Finally, UBS Group raised their price target on Ball from $56.00 to $59.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.08.

Ball Price Performance

BALL stock opened at $66.81 on Thursday. The firm has a 50 day simple moving average of $65.00 and a two-hundred day simple moving average of $65.21. The stock has a market cap of $20.74 billion, a PE ratio of 5.03, a P/E/G ratio of 1.63 and a beta of 0.88. Ball has a one year low of $42.81 and a one year high of $71.32. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.18 and a quick ratio of 0.88.

Ball (NYSE:BALL) last released its earnings results on Thursday, August 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Ball had a return on equity of 19.45% and a net margin of 32.79%. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. On average, analysts predict that Ball will post 3.12 EPS for the current fiscal year.

Ball Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.80 annualized dividend and a yield of 1.20%. Ball’s dividend payout ratio (DPR) is presently 6.02%.

Hedge Funds Weigh In On Ball

Several hedge funds and other institutional investors have recently modified their holdings of BALL. Blue Trust Inc. boosted its position in Ball by 35.7% during the 3rd quarter. Blue Trust Inc. now owns 2,064 shares of the company’s stock valued at $140,000 after acquiring an additional 543 shares in the last quarter. Drake & Associates LLC lifted its stake in shares of Ball by 20.7% in the 3rd quarter. Drake & Associates LLC now owns 5,188 shares of the company’s stock valued at $352,000 after purchasing an additional 888 shares during the period. Hengehold Capital Management LLC bought a new stake in shares of Ball during the third quarter valued at approximately $211,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Ball by 3.5% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 57,579 shares of the company’s stock worth $3,910,000 after purchasing an additional 1,961 shares during the period. Finally, Opal Wealth Advisors LLC raised its holdings in Ball by 7.6% in the third quarter. Opal Wealth Advisors LLC now owns 3,033 shares of the company’s stock worth $206,000 after purchasing an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 86.51% of the company’s stock.

Ball Company Profile

Ball Corporation supplies aluminum packaging products for the beverage, personal care, and household products industries in the United States, Brazil, and internationally. The company manufactures and sells aluminum beverage containers to fillers of carbonated soft drinks, beer, energy drinks, and other beverages.